Novavax (NASDAQ:NVAX) Trading Up 5.1% - Time to Buy?

Key Points

• Novavax's stock price increased by 5.1% during mid-day trading, closing at $8.50, despite a significant decline in trading volume.
• Analysts have mixed ratings on Novavax, with a current average rating of "Hold" and a price target average of $14.29; however, four analysts rated it as a buy.
• The company reported a net margin of 39.20% and earnings per share of $0.62 for the last quarter, exceeding analysts' expectations significantly despite a year-over-year revenue decline of 42.4%.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report)'s share price traded up 5.1% on Tuesday . The company traded as high as $8.52 and last traded at $8.50. 1,271,290 shares were traded during trading, a decline of 81% from the average session volume of 6,652,797 shares. The stock had previously closed at $8.08.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America restated an "underperform" rating and set a $7.00 price objective (down previously from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. Citigroup began coverage on Novavax in a research report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 price target for the company. Finally, HC Wainwright began coverage on Novavax in a research report on Thursday, August 28th. They issued a "buy" rating and a $10.00 price target for the company. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $14.29.

Novavax Stock Up 2.1%

The company's fifty day simple moving average is $7.81 and its 200-day simple moving average is $7.19. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.36 and a quick ratio of 2.34. The firm has a market capitalization of $1.41 billion, a PE ratio of 3.82, a price-to-earnings-growth ratio of 0.11 and a beta of 2.68.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.69. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The company had revenue of $239.24 million for the quarter, compared to analyst estimates of $149.19 million. During the same period in the prior year, the company earned $0.99 earnings per share. The firm's revenue was down 42.4% on a year-over-year basis. On average, analysts forecast that Novavax, Inc. will post -1.46 EPS for the current year.

Institutional Investors Weigh In On Novavax

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Novavax by 2.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,048 shares of the biopharmaceutical company's stock worth $492,000 after purchasing an additional 1,718 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Novavax by 5.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 34,095 shares of the biopharmaceutical company's stock worth $215,000 after purchasing an additional 1,766 shares during the last quarter. E Fund Management Co. Ltd. raised its position in shares of Novavax by 9.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 28,280 shares of the biopharmaceutical company's stock worth $178,000 after purchasing an additional 2,326 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Novavax by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company's stock worth $678,000 after purchasing an additional 2,750 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Novavax by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 33,169 shares of the biopharmaceutical company's stock worth $213,000 after purchasing an additional 2,780 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.